ED demands details on Paytm Payments Bank’s overseas transactions

In early February, a media report surfaced that the Enforcement Directorate (ED) had begun probing into One97 Communications on suspicion of violation of foreign exchange rules.

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  • Storyboard18,
 | February 14, 2024 , 9:32 pm
In early February, a media report surfaced that the ED had begun probing into One97 Communications on suspicion of violation of foreign exchange rules. However, the firm has denied these allegations. (Image source: Amazon)
In early February, a media report surfaced that the ED had begun probing into One97 Communications on suspicion of violation of foreign exchange rules. However, the firm has denied these allegations. (Image source: Amazon)

Every day this month has been a new development in the Paytm saga. The Enforcement Directorate (ED) is seeking details on overseas transactions from Paytm Payments Bank, stated a media report.

In early February, a media report surfaced that the ED had begun probing into One97 Communications on suspicion of violation of foreign exchange rules. However, the firm has denied these allegations.

The investigating agency sought more information from the Reserve Bank of India (RBI) which had clamped down on the operations of Paytm Payments Bank, which would become effective post February 29.

Read More: Crisis-hit Paytm working on solutions; to operate as third-party app for UPI

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